Japan Natural Language Processing Market Outlook 2031

The Japan natural language processing market is likely to grow at a CAGR of 25.5% during the forecast period, i.e., 2022-2031. The market generated a revenue of around USD 900 Million at the end of 2022 and is likely to produce revenue worth of nearly USD 10,000 Million by the end of 2031. Growing usage of artificial intelligence in the region, rise in the development of new AI systems, and the government’s rising effort for advancing the use of AI in the region are some of the major factors anticipated to drive the growth of the market during the forecast period.

The Japan natural language processing market is segmented by component, deployment, enterprise size, type, application, end-user industry. On the basis of application market is further fragmented into social media sentiment analysis, text summarization, virtual agents and chatbots, machine translation, and others. The text summarization segment is anticipated to garner the highest revenue of about USD 3000 million by the end of 2031. This growth is on the account of the increased adoption of artificial intelligence technology. The text summarization segment is to grow at a CAGR of around 24% over the forecast period. In addition to this, the market generated a revenue of over USD 300 million in 2021.

The Japan natural language processing market is also segmented on the basis of end-user industry into education, BFSI, healthcare, IT & telecom, manufacturing, media and entertainment, and others, out of which, the BFSI segment is estimated to gain the largest market of over USD 4,450 million at the end of 2031. Further, the segment is projected to grow with a CAGR of nearly 26% during the forecast period. In addition to this, the segment garnered a revenue of USD 360 million in the year 2021. Growing number of AI facilities designed exclusively for banking and other financial services is one of the major factors anticipated to drive the growth of the segment in the coming years.

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Japan natural language processing market that are included in the report are Atilika, Inc., Baidu Research, JSOL Corporation, IQVIA Inc., NTT Media Intelligence Laboratories, FRONTEO Inc., Nvidia Corporation, 3M, IBM Corporation, Nikkei Inc., and LINE Corporation